Chinese tech giant Alibaba names new CEO, chairman

20 Jun 2023

Chinese tech giant Alibaba said Tuesday it will replace its top boss, in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused by weak consumer spending and a regulatory crackdown.

The move comes as the market leader prepares to undergo a fundamental reorganisation of its sprawling business operations, which span cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence.

Under the reshuffle, Joseph Tsai will serve as chairman and Eddie Wu as CEO -- replacing Daniel Zhang, who holds both roles. Both appointments will take effect on September 10.